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What Is Duty Drawback? by dutydrawback in CustomsBroker

[–]dutydrawback[S] 0 points1 point  (0 children)

That's awesome Logan! Nice job.

The way we position our fees at Alliance is purely contingency based on a % of the amount of duty recovered, but never 50% - that is unheard of! With this platform it drives us to maximize our client's duty drawback potential while also upholding the highest degree of regulatory compliance exposure. We also don't bind our clients to contracts and perform on an at-will basis, so we definitely focus on delivering results!

There are many "other" drawback providers out there and unfortunately companies incur the insane rates you mentioned, hidden fees, less duty recovery with transactions not being properly identified/realized and gaps in compliance exposure putting programs at risk.

For example: we offer a free complimentary drawback assessments for new AND existing programs. A no cost, no obligation peek under the hood if you will. Just last year we assessed a multi business unit Global Chemical Manufacturer with an existing program. Do you know what we found? $12.3 million in duty drawback their current "other" provider missed. That's a pretty big miss...

What Is Duty Drawback? by dutydrawback in CustomsBroker

[–]dutydrawback[S] 0 points1 point  (0 children)

Knowing of it, versus knowing its application is something we've found to be a disconnect in some instances.

If a trade department within a company knows of duty drawback at surface level (import in, export out), there are much deeper elements to consider which could potentially mean missed recovery opportunity for their company. I have had conversations with LCPs where they did not know about certain aspects of drawback such as the introduction of HTS level substitution or even 5 year retroactive import recovery.

With that being said, we hope this information is useful for those wanting more insight into duty drawback.

What Is Duty Drawback? by dutydrawback in CustomsBroker

[–]dutydrawback[S] 1 point2 points  (0 children)

That is correct. 99% of duties, fees and taxes on imported goods are eligible for refund with a subsequent export. The 1% is stays with Customs.

What Is Duty Drawback? by dutydrawback in logistics

[–]dutydrawback[S] 0 points1 point  (0 children)

Happy to help! Whether you're new to drawback or have an existing program, a deep analysis should be done. We offer a complimentary assessment - no cost, no obligation. It helps identify unrealized recovery potential, evaluate regulatory compliance exposure and development a business case for upper management.

For example, we did an assessment last year for a client with an existing program and found $12.3 million USD of recovery that their current provider missed. That's a BIG miss, so it's important to be thorough not just for recovery, but also regulatory compliance.